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Topic: MtGox withdrawal delays [Gathering] - page 291. (Read 908613 times)

legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
August 29, 2013, 10:50:47 AM
There is so much misinformation in this thread that it's not even funny.
I just watched a withdraw go from preparing to confirmed. Took about 10 minutes.
Sounds about right.  It is now in the queue for being sent to the bank.  Next step is pending (sent to the bank) then processed (transfer completed by their bank).
hero member
Activity: 882
Merit: 501
Ching-Chang;Ding-Dong
August 29, 2013, 10:43:27 AM
There is so much misinformation in this thread that it's not even funny.

I just watched a withdraw go from preparing to confirmed. Took about 10 minutes.


ibox: Someone used a stolen bank account to initiate the transfer, thus it was 'fraudulent.'

newbie
Activity: 32
Merit: 0
August 29, 2013, 10:35:47 AM
By the way I know the bought a company in Poland and so they use their account and so on. But does someone know what are their advantage to stay there? Because usually "brokers" (or similar) use some kind of fiscal paradise like Chypre eg.
AFAIK there is only one advantages with Poland and some other countries: Bank transfers are final. The bank won't return an incoming transfer unless MtGox agree.

Besides from that, it just happend to be where they finally found a bank willing to deal with a Bitcoin exchange, after their French bank threw them out.  They don't get very good terms at the Polish bank, but what can they do?  Not many banks in Europe are willing to do business with a Bitcoin exchange.

The other strategy (bitcoin.de and Bitcoin-Central) is to let each customer effectively have their own bank account tied directly to their exchange account.  We have yet to see how this works out.  It will probably be difficult for Non-EU citizens to get accounts there.

THis is simply not true. I currently have a incoming Polish payment to my Polish account and it was fraudulent, so they are in the process of reversing it.

Hmm what do you mean by "fraudulent"? How a money income can be fraudulent? (this is jsut misunderstood, no sarcasm at all!)
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
August 29, 2013, 10:28:34 AM
THis is simply not true. I currently have a incoming Polish payment to my Polish account and it was fraudulent, so they are in the process of reversing it.
In that case there are no advantages with Poland.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
August 29, 2013, 10:20:23 AM
The waiting time depends on the FIFO queue for SEPA withdrawals, which is 4 days long currently.  I.e. a SEPA withdrawal between 1k and 30k EUR will reach pending state after four business days.
So what about ur withdrawal? Is it "pending" now? I don't think so ^^
Still confirmed.  It will enter pending on Monday if 4 days hold.  Perhaps even tomorrow if the queue is a bit shorter than 4 days (counting hours here).  It will not go anywhere during the weekend, I'm quite sure of that.
hero member
Activity: 882
Merit: 501
Ching-Chang;Ding-Dong
August 29, 2013, 10:12:39 AM
By the way I know the bought a company in Poland and so they use their account and so on. But does someone know what are their advantage to stay there? Because usually "brokers" (or similar) use some kind of fiscal paradise like Chypre eg.
AFAIK there is only one advantages with Poland and some other countries: Bank transfers are final. The bank won't return an incoming transfer unless MtGox agree.

Besides from that, it just happend to be where they finally found a bank willing to deal with a Bitcoin exchange, after their French bank threw them out.  They don't get very good terms at the Polish bank, but what can they do?  Not many banks in Europe are willing to do business with a Bitcoin exchange.

The other strategy (bitcoin.de and Bitcoin-Central) is to let each customer effectively have their own bank account tied directly to their exchange account.  We have yet to see how this works out.  It will probably be difficult for Non-EU citizens to get accounts there.

THis is simply not true. I currently have a incoming Polish payment to my Polish account and it was fraudulent, so they are in the process of reversing it.
legendary
Activity: 2926
Merit: 1131
August 29, 2013, 09:20:23 AM

The waiting time depends on the FIFO queue for SEPA withdrawals, which is 4 days long currently.  I.e. a SEPA withdrawal between 1k and 30k EUR will reach pending state after four business days.

So what about ur withdrawal? Is it "pending" now? I don't think so ^^

and yes after "confirmed" it's "pending" and then "processed".
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
August 29, 2013, 08:52:00 AM
By the way I know the bought a company in Poland and so they use their account and so on. But does someone know what are their advantage to stay there? Because usually "brokers" (or similar) use some kind of fiscal paradise like Chypre eg.
AFAIK there is only one advantages with Poland and some other countries: Bank transfers are final. The bank won't return an incoming transfer unless MtGox agree.

Besides from that, it just happend to be where they finally found a bank willing to deal with a Bitcoin exchange, after their French bank threw them out.  They don't get very good terms at the Polish bank, but what can they do?  Not many banks in Europe are willing to do business with a Bitcoin exchange.

The other strategy (bitcoin.de and Bitcoin-Central) is to let each customer effectively have their own bank account tied directly to their exchange account.  We have yet to see how this works out.  It will probably be difficult for Non-EU citizens to get accounts there.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
August 29, 2013, 08:28:55 AM
I thought processed came after confirmed? That's how all my others have shown while they were being processed.

They have all shown confirmed all this time.
And you haven't had other withdrawals come through the last 10 bank days?  I don't know how other withdrawals affect the SWIFT queue.
newbie
Activity: 32
Merit: 0
August 29, 2013, 08:17:15 AM
According to the Support :

Confirmed (user mail confirmation done) >> Processing (transfer moved in the bank queue) >> Processed (done by the Polish bank)

By the way I know the bought a company in Poland and so they use their account and so on. But does someone know what are their advantage to stay there? Because usually "brokers" (or similar) use some kind of fiscal paradise like Chypre eg.
hero member
Activity: 882
Merit: 501
Ching-Chang;Ding-Dong
August 29, 2013, 08:00:11 AM
I thought processed came after confirmed? That's how all my others have shown while they were being processed.

They have all shown confirmed all this time.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
August 29, 2013, 07:23:57 AM
USD SWIFT pending since june 17th...

EURO SEPA 20,xxx pending since beg of august...

friend has 1 BTC EURO SEPA Pending for a little over a week now.
Has the transfers been in pending state all this time?  The state before pending is Confirmed.  Pending means it has been sent to the bank, and if it stays in pending state for more than 5 business days (2 for SEPA), you should contact support.  There is probably something wrong so the bank couldn't send it.
hero member
Activity: 882
Merit: 501
Ching-Chang;Ding-Dong
August 29, 2013, 06:24:48 AM
USD SWIFT pending since june 17th...

EURO SEPA 20,xxx pending since beg of august...

friend has 1 BTC EURO SEPA Pending for a little over a week now.
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
August 29, 2013, 05:05:12 AM
I'm out. 2 months later and they still couldn't give me an ETA on when my transfers would be completed. I cancelled my transfers and took the 5% special transfer wire option. Funds landed in my bank 3 days later.
Wow 5%...
So it comes down to the highest bidder to get funds out.
I suppose 10% would get me at the front of the line no problem eh GOX?
AFAIK the fee is the same for everyone who request the express manual wire transfer.  Never heard of anyone paying more than 5%.  The fee goes to the payment provider, if I understood this correctly.
legendary
Activity: 2492
Merit: 1473
LEALANA Bitcoin Grim Reaper
August 29, 2013, 04:59:26 AM
I'm out. 2 months later and they still couldn't give me an ETA on when my transfers would be completed. I cancelled my transfers and took the 5% special transfer wire option. Funds landed in my bank 3 days later.

Wow 5%...

So it comes down to the highest bidder to get funds out.

I suppose 10% would get me at the front of the line no problem eh GOX?
legendary
Activity: 1437
Merit: 1002
https://bitmynt.no
August 29, 2013, 04:48:58 AM
In case other people want to know about where I got the 10 days from: I let someone from MtGox support have a look at my previous version, and got some clarifications and updates.  The reduction from 20 to 10 days happened very recently.
Hmm.. 20days would match to my experience, 10 days not.
I agree. 10 days doesn't seem correct. My last SEPA withdrawal was send 2 weeks ago. All other are still waiting as "confirmed". All are smaller than 1000eur.
Only bank days (business days) are counted, so 2 weeks = 10 days.  Your next withdrawal should reach Pending any time now then.  Please keep us updated.

The waiting time depends on the FIFO queue for SEPA withdrawals, which is 4 days long currently.  I.e. a SEPA withdrawal between 1k and 30k EUR will reach pending state after four business days.

A few other interesting pieces of information:
The international transfer queue is actually progressing, and has reached mid June.  If anyone have an international transfer issued before June 20th which has been in pending for more than five days, you should contact support.  There is probably something wrong with it.  A misspelling, mistyped account number, your bank holding back the payment (there are a few examples of Citibank doing this), etc.
newbie
Activity: 14
Merit: 0
August 28, 2013, 11:43:14 PM
In case other people want to know about where I got the 10 days from: I let someone from MtGox support have a look at my previous version, and got some clarifications and updates.  The reduction from 20 to 10 days happened very recently.

Hmm.. 20days would match to my experience, 10 days not.
I agree. 10 days doesn't seem correct. My last SEPA withdrawal was send 2 weeks ago. All other are still waiting as "confirmed". All are smaller than 1000eur.
legendary
Activity: 1078
Merit: 1006
100 satoshis -> ISO code
August 28, 2013, 10:47:18 PM
I cancelled my transfers and took the 5% special transfer wire option. Funds landed in my bank 3 days later.
What's this?

MtGox's bank will do one manual transfer a day for them, at an eye-gouging rate of commission.
newbie
Activity: 21
Merit: 0
August 28, 2013, 09:38:13 PM
I cancelled my transfers and took the 5% special transfer wire option. Funds landed in my bank 3 days later.
What's this?
legendary
Activity: 1078
Merit: 1006
100 satoshis -> ISO code
August 28, 2013, 07:27:58 PM
I'm out. 2 months later and they still couldn't give me an ETA on when my transfers would be completed. I cancelled my transfers and took the 5% special transfer wire option. Funds landed in my bank 3 days later.

Ouch. That would be $500 on as little as $10k

Has anyone asked Gox whether they would post a cheque? A week in the mail is infinitely better than their glacial transfers.
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